Is Your Company Taking Unnecessary Risks with Fabrication and Assembly?As you know, reducing risk in the workplace involves a lot more than making sure people are wearing hardhats and goggles. It’s about more than avoiding regulatory fines. Safety and compliance are simply table stakes. Time, money, space, and even your reputation are on the line when assemblies and subsystems are put into operation. Why take unnecessary risks when there is a better way?
A 2015 survey by PricewaterhouseCoopers revealed that focusing on risk management saves time on the front end of a business decision, and on the back end it relieves the cost and time challenges of responding to a previously unseen risk.1
Risk mitigation done well is a competitive advantage. It increases efficiencies and enables growth. Companies are "able to link business risks with their strategic imperatives, and are more likely to have achieved an annual profit margin of greater than 10% over the past three years, and better profit margin growth," the report said.1 What many business owners and managers don’t realize is just how important risk mitigation is to the success, growth, and competitive advantage of your business as it applies to assembly and fabrication work.
If you aren't already concerned, consider this: In basic tube fitting installation and safety classes conducted by Swagelok to gauge trainees’ knowledge, at the beginning of class, trainees are asked to assemble a piece of tubing and a standard fitting. On average, more than half of the trainees install the fitting improperly. Often, this basic in-class install is being performed by technicians who are already working in the field, many with years of experience. If that’s happening with the most basic task in
Risk assessment is only the first necessary step. It’s equally important to put a risk mitigation program in place. Done well, systematic risk reduction increases efficiencies and makes you leaner. It's a competitive advantage worth seeking.
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